News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff News  All News  » Business » 15 nations with highest number of millionaires

15 nations with highest number of millionaires

Last updated on: June 3, 2011 12:55 IST

Image: The Smurf balloon floats through Times Square.
Photographs: Brendan McDermid/Reuters.
With the global economy recovering from financial crisis, there has been a significant rise in wealth. Global wealth has risen by $9 trillion to a record high of $121.8 trillion.

This level is about $20 trillion above where it stood just two years prior during the financial crisis, according to a new study by The Boston Consulting Group (BCG).

Millionaire households represented just 0.9 per cent of all households but owned 39 per cent of global wealth, up from 37 per cent in 2009.

The proportion of wealth owned by millionaire households increased the most in Asia-Pacific, at 2.9 percentage points, followed by North America, at 1.3 percentage points. The number of dollar-millionaire households increased by 12.2 per cent in 2010 to about 12.5 million.

Here's a look at the 15 nations with the maximum number of millionaires...

1. United States
Millionaires: 5,220,000

The United States tops the charts with the highest number of millionaire in the world.

North America had the largest absolute gain of any regional wealth market in assets under management (AuM), at $3.6 trillion, and the second-highest growth rate, at 10.2 per cent.

Its $38.2 trillion in AuM made it the world's richest region, with nearly one-third of global wealth, according to The Boston Consulting Group.

The wealth of millionaire households in United States, is expected to soar by 223 per cent by the end of the decade, hitting a high of $87 trillion.

About 43 per cent of the world's millionaire wealth will remain in the US, says a Deloitte study.

. . .

15 countries with the most millionaires

Image: A woman takes a picture of Kymco scooter Mitch, studded with 100,000 Swarovski crystals.
Photographs: Toru Hanai/Reuters.

2. Japan

Millionaires: 1,530,000

Though Japan is ranked second in terms of the number of millionaires, the country's fortunes are on the decline.

The overall wealth declined by 0.2 per cent in the Japanese market to $16.8 trillion.

Interestingly, three years ago, Japan accounted for more than half of all the wealth in the Asia-Pacific region.

. . .

15 countries with the most millionaires

Image: Galaxy Macau, a resort in Macau.
Photographs: Bobby Yip/Reuters.

3. China

Millionaires: 1,110,000

China has the second highest number of millionaires in Asia.

It also saw a big leap in the category of ultra-high-net-worth households - those with more than $100 million in assets under management.

China is now home to 393 households in this category, which places the country eighth overall in the world.

China is expected to be drive millionaire wealth, followed by Brazil and Russia. China will see its total millionaire wealth jump by a 493 per cent to $8.24 trillion by 2020.

. . .

15 countries with the most millionaires

Image: A Hamleys employee poses with the Mercedes Benz SLS.
Photographs: Luke MacGregor/Reuters.

4. United Kingdom

Millionaires: 570,000

The number of millionaires living in Britain has risen by 17 per cent over the last two years.

Britain will have 826,000 millionaires by 2020, according to a Barclay's Wealth study.

The UK is a highly developed country and has the world's sixth-largest economy by nominal GDP and seventh-largest economy by purchasing power parity.

. . .

15 countries with the most millionaires

Image: Workers install the sculpture 'Golden Bird' by German artist HA Schult in front of the cathedral.
Photographs: Ina Fassbender/Reuters.

5. Germany

Millionaires: 400,000

Germany is the second richest after United States in terms of 'super rich' households worth more than $100 million.

BCG calculated the assets of German private investors to be euro 5.2 trillion, noting that the wealthy in Germany tended to favour less risky investments than their foreign counterparts.

. . .

15 countries with the most millionaires

Image: A Vistajet flight attendant prepares a breakfast in a Bombardier 605 aircraft in Geneva.
Photographs: Denis Balibouse/Reuters.

6. Switzerland

Millionaires: 330,000

Switzerland has the highest concentration of millionaire households in Europe and the second highest overall, at 9.9 per cent.

Switzerland is one of the richest countries in the world by per capita gross domestic product, with a nominal per capita GDP of $69,838.

In 2010, Switzerland had the highest wealth per adult of any country in the world (with $372,692 for each person).

. . .

15 countries with the most millionaires

Image: Taiwanese gold sculptor Jeng Ying-shie holds up a 108-gram mini gold sculpture of a Benz Motorwagen.
Photographs: Richard Chung/Reuters.

7. Taiwan

Millionaires: 280,000

Taiwan is known as one of the Four Asian Tigers with a highly industrialised economy.

This economic rise is known as the Taiwan Miracle.

The nation has been categorised as an advanced economy by the IMF and as a high-income economy by the World Bank.

. . .

15 countries with the most millionaires

Image: A model presents a creation by Nicola Bolla made from Swarovski crystals.
Photographs: Alessandro Garofalo/Reuters.

8. Italy

Millionaires: 270,000

One of Europe's richest nations, it has been ranked the world's twenty-third most-developed country with a high quality of life index.

Italy enjoys a very high standard of living, and has a high nominal GDP per capita.

It has the world's seventh-largest nominal GDP and tenth highest GDP (PPP).

. . .

15 countries with the most millionaires

Image: A view of a suite at the luxury Royal Monceau Raffles Hotel in Paris.
Photographs: Benoit Tessier/Reuters.

9. France

Millionaires: 210,000

France, one of the world's most developed countries is ranked 9th in terms of millionaires.

It has the world's fifth largest and Europe's second largest economy by nominal GDP. One of the wealthiest nations in Europe, it enjoys a high standard of living.

. . .

15 countries with the most millionaires

Image: A woman poses for a photo on a 3D pavement artwork by artist Tracy Lee Stum in a shopping mall in HK
Photographs: Tyrone Siu/Reuters.

10. Hong Kong

Millionaires: 200,000

Hong Kong  is one of the world's leading international financial centres. Low taxation and free trade are the highlights of this booming economy.

The Hong Kong dollar is the ninth most traded currency in the world.

The nation ranks high on economic freedom, financial and economic competitiveness, quality of life, corruption perception and human development index.

. . .

15 countries with the most millionaires

Image: A worker displays a miniature 22 carat gold replica of the historic Taj Mahal.
Photographs: Babu/India.

11. India

Millionaires: 190,000

Even as the rich-poor gap widens in India, it ranks 11th in the world when it comes to the number of millionaires. According to the study India is home to 190,000 dollar-millionaires; that is, people who have at least Rs 4.5 crore.

Unofficial figures, however, are much larger and vary from 250,000 to 500,000.

The wealth in emerging markets will grow at above average rates, says the Boston Group study.

In India and China, wealth is increasing at a compounded annual rate of 18 per cent and 14 per cent respectively from year end of 2010 through 2015.

. . .

15 countries with the most millionaires

Image: Canada Day celebrations.

12. Canada

Millionaires: 180,000

Canada is one of the world's wealthiest nations, with a high per-capita income.

It is a member of the Organisation for Economic Co-operation and Development (OECD) and the G8, and one of the world's top ten trading nations.

. . .

15 countries with the most millionaires

Image: Rows of Maneki Neko, also known as Fortune Cats, are displayed for sale during the Lunar New Year.
Photographs: Kevin Lam/Reuters.

13. Singapore

Millionaires: 170,000

One of the Four Asian Tigers, Singapore is the world's fourth leading financial centre.

Singapore has a highly developed market-based economy. It has one of the busiest ports in the world and is the world's fourth largest foreign-exchange trading centre after London, New York and Tokyo.

The World Bank ranks Singapore as the world's top logistics hub. Singapore possesses the world's tenth largest foreign reserves.

. . .

15 countries with the most millionaires

Image: Tourists cycle as they drink beer and sing karaoke on a beer bike in Amsterdam.
Photographs: Robin van Lonkhuijsen/Reuters.
14. The Netherlands

Millionaires: 170,000

The Netherlands has the 16th largest economy in the world, and ranks 7th in GDP (nominal) per capita.

On the Index of Economic Freedom, Netherlands is the 13th most free market capitalist economy out of 157 surveyed countries.

. . .

15 countries with the most millionaires

Image: A man holds a gold bar after the unveiling of the first gold-plated ATM at a Madrid's luxury hotel.
Photographs: Sergio Perez.

15. Spain

Millionaires: 160,000

Spain is a developed country with the twelfth largest economy in the world by nominal GDP, and very high living standards including the tenth-highest quality of life index rating in the world.

Spain's capitalist mixed economy is the twelfth largest worldwide and the fifth largest in the European Union.